NEW YORK - MSCI Inc . (NYSE:MSCI), a prominent provider of investment decision support tools, has announced the appointment of Luke Flemmer as Head of Private Assets, effective today. Flemmer will spearhead the company's product development for private assets and oversee the growth of this business segment.
Flemmer, who will be based in New York, brings a wealth of experience from his previous role as Managing Director, Head of Digital Strategy for Alternative Investments at Goldman Sachs. His tenure at Goldman Sachs, which began in 2020, was preceded by his position as Co-Founder and CEO of Lab49, a global provider of investment and risk technology solutions. After Lab49's acquisition by the ION group in 2015, Flemmer also co-led ION's Capital Markets division.
"I am extremely excited by the opportunity to join the leadership team at MSCI to focus on this critical segment of our industry," Flemmer stated. He expressed his eagerness to collaborate with MSCI's team and clients to deliver outstanding products in the private assets domain.
Alvise Munari, Chief Product Officer at MSCI, praised Flemmer's appointment, highlighting his deep expertise in data and analytics within the financial services sector and his comprehensive knowledge of private assets. Munari emphasized Flemmer's proven ability to drive growth and lead successful teams as key to accelerating MSCI's initiatives in this important growth area.
MSCI, with over 50 years of experience, offers research, data, and technology to support better investment decisions. The company is known for creating solutions that provide insight and improve transparency in the investment process.
This press release includes forward-looking statements and emphasizes that actual results may vary. It advises against placing undue reliance on these projections. MSCI disclaims any obligation to update forward-looking statements and notes that no content herein should be taken as investment advice. The company also clarifies that it offers no warranties regarding the information provided and limits its liability to the extent permitted by law.
The announcement is based on a press release statement and aims to inform investors and the broader financial community about this significant development within MSCI.
In other recent news, MSCI Inc. has reported a 12% rise in adjusted earnings per share and a 10% organic revenue growth for the second quarter of 2024, bolstered by a mid-teens increase in net new recurring subscription sales. Raymond James maintained a Market Perform rating on MSCI, while RBC Capital retained its Outperform rating with a steady price target of $638.00 despite acknowledging lower retention rates and weaker bookings in the third quarter of 2024. Redburn-Atlantic upgraded MSCI's stock rating from Neutral to Buy, setting a price target of $680, based on the company's potential for long-term structural growth. Evercore ISI initiated coverage on MSCI with an Outperform rating and set a price target of $690, suggesting the stock's current price-to-earnings (P/E) ratio underestimates the company's potential for organic subscription revenue growth. On the board, MSCI welcomed Michelle Seitz as an independent director, while director Chirantan "CJ" Desai resigned, with no disagreements with the company's operations, policies, or practices stated as the reason for his departure. These are recent developments in the company's financial and strategic landscape.
InvestingPro Insights
MSCI's appointment of Luke Flemmer as Head of Private Assets aligns with the company's strong financial performance and market position. According to InvestingPro data, MSCI boasts a substantial market capitalization of $47.28 billion, reflecting its significant presence in the investment tools sector.
The company's robust financial health is evident in its impressive revenue growth of 15.03% over the last twelve months, with total revenue reaching $2.70 billion. This growth trajectory supports MSCI's strategy to expand its private assets business under Flemmer's leadership.
InvestingPro Tips highlight MSCI's consistent dividend performance, having raised its dividend for 10 consecutive years and maintained payments for 11 years straight. This demonstrates the company's commitment to shareholder returns, which could be further bolstered by successful expansion into private assets.
The stock's strong performance is noteworthy, with a 19.67% price total return over the past three months and trading near its 52-week high. This positive momentum may reflect investor confidence in MSCI's growth strategies, including its focus on private assets.
For investors seeking a deeper understanding of MSCI's potential, InvestingPro offers 11 additional tips, providing a comprehensive view of the company's prospects and market position.
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